MOSCOW, 12 Mar – RIA Novosti. Antitrust regulators plan to fine Alibaba the largest amount in corporate history in China , according to the Wall Street Journal, citing informed sources.
At the end of 2020, the General Government of China for Market Control and Regulation launched an antitrust investigation against Alibaba. The company expressed its readiness to actively cooperate with the authorities and promised that it will continue to conduct normal activities despite the investigation.
According to sources, the fine imposed by Alibaba will exceed the amount of $ 975 million, which Qualcomm, accused of unfair competition, paid to the Chinese authorities in 2015.
In addition, the company will be required to abandon the practice of “er xuan yi” (“choose one of two”). These are the two dominant e-commerce platforms Taobao and Tmall, both of which are operated by Alibaba.
Alibaba Group is the largest internet company in China with an e-commerce business since 1999. The group also owns several subsidiaries and online platforms: Alibaba Pictures, AliExpress, Taobao, Tmall.